Monday, July 6, 2015

Downtown Edmonton Real Estate Market Update!

Downtown and Oliver condo prices and inventory are down in June of 2015, while number of sales and average days-on-market are up!

73 condos have sold on the MLS® in Oliver and Downtown area in June of 2015, 9 more than last month and 2 less than in June of 2014. The selling price ranged from $103,000, 653 square foot one bedroom in Cedar Village, to $738,000, two bedroom plus den 1,605 sq.ft. condo in Grandin Green. The average selling price was 290,204, down by 5.2% from last month and down by 4.3% from June of 2014.

The price per square foot was also down slightly at $304 from $306. The inventory has decreased from 310 to 275 condos available. The average list price was $298,204 and $312 per sq ft. Current days-on-market are 51, while sold-to-list price ratio hasn’t changed at 97%.

The current absorption rate for Downtown and Oliver condos as of today stands at 3.7 months compared to 4.8 last month.

All the information in this article has been provided by Realtors® Association of Edmonton.

Brought to you by: Downtown Edmonton Real Estate Blog!

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